Center of Excellence

in Quantitative Finance
and Risk Management

CPFE
CERTIFICATE PROGRAM IN
FINANCIAL ENGINEERING

FinoQ Executive Program
Indian Institute of Quantitative Finance The most comprehensive program of financial
engineering
 Contents

Introduction..........................................3
Board of Governors............................4
About CPFE Program ….....................5
The Curriculum....................................8
The Faculty..........................................11
Admission............................................14
Alumni Speak......................................16
About IIQF............................................18
Awards & Recognitions.....................25
Contact us............................................27
India's First
Quant Finance Institute

2
Introduction - Financial Engineering
Modern Investment Finance is hugely dependent on
the implementations of the theories and techniques
of Financial Engineering. Financial Engineering or
Quantitative Finance as it is alternately known, is a
multidisciplinary field involving the application of
theories from financial economics, physics,
mathematics, probability, statistics, operations
research and econometrics using the methods and
tools of engineering and the practice of computer
programming to solve the problems of Investment
Finance. financial instruments or be it finding methods to
Generally the language of choice for Quant
implementations is C++ along with tools like
Matlab, Mathematica, Stata, etc. and of late Python
language have become more popular.
Financial Engineering has emerged as a very
prospective career prospect for people with strong
mathematical background like those coming from
engineering, mathematics, statistics, physics or
econometrics background.
The best of the global financial institutions like
Investment Banks, Hedge Funds, etc. hire people
having strong quantitative skills for “Quant” jobs.
This is also a very rewarding and exciting career
option for such people as there is ample scope for
applying their numerical and creative skills to
design new things, be it like devising new
investment strategies or be it structuring new
value them.
They are continuously competing with their peers
and some of the best of minds in the market and
have to out-perform them to generate a superior
return, which is intellectually a very challenging
work, and this makes it all the more thrilling.
3
 IIQF Board of Governors
Dr. Ashwini Nanda,
Founder and CEO of HPC Links. For over 25 years, he has
been involved in research and development of high
performance computer systems and applications in both
India and the US. He was the head of TATA CRL, where he led
the development of the Eka system, Asia's fastest
supercomputer in 2007, and India's fastest till date. At IBM TJ
Watson Research Center, NY, he conceptualized and led the
development of Cell processor based systems, and the
world's first Petaflop machine, Roadrunner, at Los Alamos
National Labs.
Rajan Gadkari,
who has served as Managing Director for some of the largest
Investment Banks and Financial Institutions in New York like
Thomson Reuters, JP Morgan and as Director in Lazard
Capital Markets and Merrill Lynch.   International Partners. He has a combined experience
Anisa Maljee,
Ph.D candidate in Financial Risk Management, University of
Durham, UK .
Abhijit Biswas,
Founding Director of Indian Institute of Quantitative
Finance. He is also the Founder Director and Head of
Product Development at Risk Infotech Solutions, VP and
Head of Financial Technologies at HPC Links and Founder
Director of Quant Qubit.
Dr. M.P. Rajan,
Ph.D. IIT-Madras, Assistant Professor at School of
Mathematics, Indian Institute of Science Education &
Research. Previously he has been an Associate Professor
with the Dept. of Mathematics, IIT-Guwahati. He had
worked with Goldman Sachs as Quant Analyst.
Rajat Bhatia,
Founder & CEO of Neural Capital, Partner Neural
of nearly 30 years in the global financial markets. He has
worked in New York, London, Hong Kong, Singapore,
Sydney, Dubai and India in a wide range of areas which
include Derivatives Structuring & Trading, Capital
Markets, Alternative Investments, Equity Markets.
4
 About CPFE
Program
OVERVIEW &
PROGRAM HIGHLIGHTS

FinoQ Executive Program

Indian Institute of Quantitative Finance
 Overview & Program Highlights
OVERVIEW
The Certificate Program in Financial Engineering
(CPFE) prepares students for technically
sophisticated jobs with financial institutions,
financial service providers, financial consulting
services and financial software companies. The
program is intended for students seeking
comprehensive technical knowledge of vanilla and
exotic derivatives pricing, hedging, trading and
investment strategies and portfolio management in
equity, currency, interest rates, credit and
mortgages.
 
This is a short-term course that requires seven
months of study for the core modules, which makes
it attractive to students with strong quantitative
skills who are willing to make a quick head start in
the investment finance industry. The applied nature
of the program implies the fact that there is great
emphasis in it to impart the practical
implementation skills and techniques that are
actually used by practitioners in top financial
institutions in the industry, so a considerable part of
the course time is devoted to teaching
implementation skills along with rigorous
theoretical discourse. the industry, and which the employers do not
 
As an applied discipline, financial institutions look
for the following skill sets in the candidates for
positions in their Quant teams:
● Strong quantitative background
● Sound knowledge of the financial theories
● Very good implementation skills
 
This course is designed specifically to meet these
exact needs. This is a course on modelling and
applications of mathematics, statistics and
econometrics in investment finance. The program
covers all the technical and quantitative aspects of
investment finance used in top financial
institutions.
The combination of skills imparted through this
program viz. understanding of complex financial
theories, rigorous exposure to the underlying
mathematical and statistical theories, practical
financial modeling ability and computer
implementation proficiency, is in high demand in
generally find in graduates of standard MBA or
engineering programs. 6
Overview & Program Highlights

PROGRAM HIGHLIGHTS
 
Rigorous Practical Implementation:
World Class Faculty:
Learn how to combine theory and computational
Learn from highly acclaimed Quant practitioners
methods with the practical knowledge of the real-
and academics in Quantitative Finance who have
world application areas of these skills. Learn
worked with topmost global investment banks and
practical implementation of models in PYTHON
firms in New York, London, Singapore, Sydney and
more, with academic background from some of the
world’s top universities like Stanford (USA),
Columbia (USA), London Business School, IIM, IIT,
ISI, etc.
 
Industry focused curriculum:

Advanced curriculum designed by Quant

practitioners from top Wall Street Investment Banks
and financial institutions and industry experts to
prepare job-ready professionals who are highly
sought after by MNC financial institutions. Master
latest Quant skills including Machine Learning..

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 CPFE Program
COURSE COVERAGE &
CURRICULUM OUTLINE

FinoQ Executive Program

Indian Institute of Quantitative Finance
 CPFE - Curriculum Outline

CPFE - PRIMER MODULES (Recorded Lecture Based)

Primer 1: Introduction to Investment Finance Primer 2: Introduction to Financial Mathematics Optional

Primers -
§  Introduction to Finance and Financial Institutions §  Introduction to Linear Algebra Registered
§  Introduction to Capital Markets §  Introduction to Differential Calculus
Participants
gets access to
§  Introduction to Debt Markets §  Introduction to Integral Calculus four optional
§  Introduction to Derivatives Markets §  Introduction to Ordinary Differential Equations primers of Pre-
recorded
Primer 3: Introduction to Probability & Statistics Primer 4: Introduction to Programming modules on
§  Introduction to Probability
Maths/Stats/
§  Programming in Python Finance/
§  Probability Distributions Python

§  Descriptive and Inferential Statistics

CPFE - MAIN MODULES

Module 101: Introduction to Financial Engineering Module 102: Financial Mathematics I

§  Introduction to Financial Economics
§  Probability Theory
§  Introduction to Bond Mathematics
§  Basic Stochastic Processes
§  Options Fundamentals
§  Brownian Motion
§  Introduction to Exotic Options
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 Overview & Program Highlights

CPFE - MAIN MODULES

Module 103: Financial Mathematics II Module 104 – Machine Learning for Quantitative
Finance (in Python)
§  Stochastic Calculus §  Regression Models
§  Black-Scholes-Merton Model §  Time Series Models
§  Volatility Forecasting

Module 105 – Numerical Methods Module 106: Derivatives Valuations 1 (in Python)

§  Equity Derivatives
§  Numerical Methods for Partial Differential Equations
§  Currency Derivatives
§  Monte Carlo Simulation Methods

Module 107: Derivatives Valuations 2 (in Python) Module 108 – Risk Analytics

§  Interest Rate Derivatives
§  Introduction to Financial Risk
§  Credit Derivatives
§  Market Risk
§  Credit Risk
§  Operational and Compliance Risk

10
 About CPFE
Program
FACULTY

FinoQ Executive Program

Indian Institute of Quantitative Finance
 IIQF Faculty for CPFE Program

DR. AMIT RAM Dr. Vivek Kumar Mishra

● Ph.D. (Statistical Physics and Computational ● Ph.D. in Computer Science from IISC Bangalore
Methods) Stanford University (USA)
● Masters of Engineering from IISC Bangalore
● B. Tech. (Engineering Physics) IIT (Bombay)
● B. Tech from IIT Roorkee
● Over 10 years of experience working in Lehman
● He is an expert in applying Machine Learning using
Brothers (New York), JP Morgan Chase (New York),
Python and R in Algorithmic Trading. He currently works
Standard Chartered (Singapore), Nomura (Mumbai).
for Deep Value an US based firm that develops
He is currently Vice President, Quantitative Risk with research-driven trading algorithms based solely on best
a leading global investment bank, where he is execution.
responsible for VaR methodologies and works on
VaR process. SRIJOY DAS
● MSc. Finance from London Business School
DR. SAMIR RANJAN
● B-Tech from IIT Kanpur
● Ph.D. (Theoretical Physics) Purdue University
(USA) ● Over 14 years of experience in Quantitative analysis
and research that includes areas such as Derivatives
● MS (Mathematical Finance) Columbia University
Pricing, Market and Credit risk and has worked in India,
(New York)
USA & UK in a variety of roles in international banks and
● Over 10 years of experience working as Financial consulting firms. He is currently working in a leading
Engineer with Bond desk Group in New Jersey (USA). investment bank in model risk management function on
validation of regulatory stress testing models and also
internal stress testing models such as FWST etc.
He currently teaches Financial Mathematics at one Further he is a thought leader and a scholar who likes to
of the leading private universities and is also the connect with, influence and inspire his audience through
Director of the Integrated MBA program. writing, speaking, lecturing and debating and using
world-class network of resources. 12
 IIQF Faculty for CPFE Program

UJWAL DINESH RITESH CHANDRA

● MBA (IIM-Calcutta), FRM, CFA ● MBA IIM Calcutta
● BE (NIT Surat), PG Diploma in Securities Law ● B. Tech. IIT Kanpur and CFA (Level 3 Pass)
● Currently working as a GM of one of the top MNC ● More than 11 years of experience in Credit Risk,
IT Company leading their Risk Management team Corporate Finance & Technology and has worked in
and Derivative Valuations team. Previously he was India, China and Canada in a variety of roles
working with one of the top four Wall Street Banks as
Credit Analyst where he was responsible for  
structuring and recommending exposure for fund- He is currently Executive Vice President – Corporate
based, non fund-based and derivative facilities. He Credit Risk with one of the largest private banks.
has experience of statistical modelling of short-term
interest rates in India.

 

RUPAL MISHRA
● Executive MBA from IIM Kozhikode
● B.Tech from IIT, Kanpur
● More than 10 years of experience in various areas
of finance. He currently works as Vice President,
Fixed Income at one of the largest International Bank
for their Corporate Investment Banking Division. He
has worked as Assistant Vice President at Credit
Suisse, Investment Banking Division. He also been a
regular internal trainer in the organizations that he
has worked in. 13
 About CPFE
Program
ADMISSION PROCEDURES
AND OTHER DETAILS

FinoQ Executive Program

Indian Institute of Quantitative Finance
 Admission Requirements and other Info.

WHO SHOULD ATTEND PROGRAM DETAILS

● Finance Professionals like Analysts / Fund Managers / Duration (Main Modules): 320 Hours (8 Modules)
Traders / Risk Professionals / Fund Accountants / Consultants /
Derivatives structurers / Dealers / Arbitrageurs Primer Modules: Participants gets free access to recordings of all 4
Primers on course registration.
● Software professionals
Schedule: Saturdays and Sundays (5 hours per day) 
● Graduate students 
FEE DETAILS
ELIGIBILITY
Course Fee: INR 168,000 (All inclusive)/ USD 2,400 for
Undergraduate degree in finance / engineering / mathematics /
statistics / physics / economics / econometrics / chartered
participants registering from outside India.
accountancy / computer science / MBA / CFA / FRM / PRM 
(Group discounts available)
ADMISSION  PLACEMENT ASSISTANCE
Candidates may apply online for admission to the course.
Admission will be based on the candidate’s academic Students successfully completing the course will get placement
background, professional experience and personal interview. assistance subject to fulfillment of applicable conditions. 

CERTIFICATION REQUIREMENTS
PROGRAM DELIVERY
1.  Term end Project
1.  Classroom based Instructor-led
2.  Module-wise assignments
2.  Live Interactive Instructor-led Lectures online
3.  70% Attendance
 

15
 Frequently Asked Questions
What are the prerequisites for this program?
● Minimum Graduation in science / Undergraduate degree in
finance / engineering / mathematics / statistics / physics /
economics / econometrics / chartered accountancy / computer
science / MBA / CFA / FRM / PRM.
Proficiency in spoken and written English. Basic knowledge of
Statistics. Working knowledge of Excel
Computer and an internet connection. We teach in Windows
based platform. Mac users will need to Install Windows in
Parallels Desktop for Mac.
Is the program suitable for people having no
background in finance?
● Financial Engineering as a discipline involves very heavy
Mathematical modelling, so people from Quantitative background
are more suited to make a career in this field compared to pure
finance guys. So, while any prior knowledge is always useful,
however the course has been designed in a way that even people
having no knowledge of finance can attend and learn from this
program.
Further when you join the course you get access to a Primer
module on Finance which you have to go through.  
Is the program suitable for non-programmers?
● We use a lot of Python in this course for teaching practical
implementation of the models. So, participants having prior
programming background definitely have an advantage.
● For participants who do not have a programming background,
they will need to attend a primer module on basic Python
Programming. For registered participants of the course, when you
join the course, you get access to a Primer module on Python.
● The Python primer module is designed for people who do not
have any kind of prior programming background and want to learn
programming for developing applications related to finance. The aim
of this module is to teach python in an easy, lucid and structured
way so that people coming from even no-technical or non-
programming background can learn and use the python language.
How is the course delivered?
● This program is conducted as a comprehensive online course
offered via online live interactive lecture sessions on weekends. All
lectures are recorded also and participants gets access to view the
lecture recordings as well.
How long has this programme been around for?
● TThe first cohort of this program commenced in 2010.
15
 Frequently Asked Questions
Who should attend?
● If you are someone who has strong mathematical bent of
mind and wish to make a career which involves high-end
analytics, mathematical modelling and wish to do research
oriented, exciting and intellectually challenging jobs in
International Banks and Hedge Funds.
● So, whether you are a fresher trying to break into Quantitative
Investment Banking or Risk Management or a seasoned
professional trying to learn the domain in deep to further your
career prospects, then this is the perfect program to look at.
● Also, students from Engineering, Mathematics, Statistics,
Economics, Physics etc. background who aspires to work in
International Banks, Hedge Funds, Prop Desks etc. in advanced
Quant Trading/Algo Trading roles or in advanced analytical roles
in Quant analytics, Derivative Pricing and Valuation, Model
Validation, Treasury, etc. should do this course.
Who are the faculty?
● The course is taught by highly acclaimed Quant practitioners
and academics in Quantitative Finance who have worked with
topmost global investment banks and firms in New York, London,
Singapore, Sydney and more, with academic background from
some of the world’s top universities like Stanford (USA), Columbia
(USA), London Business School, IIM, IIT, ISI, etc.
What is covered in the course?
● Optional Primers: Introduction to Investment Finance,
Introduction to Financial Mathematics, Introduction to Probability &
Statistics, Introduction to Programming (Python).
● Probability Theory, Basic Stochastic Processes, Brownian Motion,
Stochastic Calculus, Black-Scholes-Merton Models.
● Machine Learning for Quantitative Finance, Monte Carlo
Simulation Methods, Numerical Methods for Partial Differential
Equations both theory and implementation in Python.
● Valuation of Equity Derivatives, Interest Rate Derivatives, Currency
Derivatives, Credit Derivatives, Swaps both deep understanding of
the models and learning the practical implementation and modelling
in Python.
● Coverage of Financial Risk Management areas, Market Risk,
Credit Risk, Operational and Compliance Risk etc. both theory plus
practical modelling.
Will certificate be awarded on completion of the
program? What are the certification criteria?
● The participant becomes eligible to get the certificate on
completion of a capstone project that is given at the end of the
program, participants who attend and follow all the lectures should
be able to complete the project. So, to get the certificate you will also
have to complete and submit the project.
15
 Frequently Asked Questions

Will certificate be awarded on completion of the What is the course calendar?

program? What are the certification criteria ?
● This course is offered 2 times in a year.
● The participant becomes eligible to get the certificate on
completion of a capstone project that is given at the end of the
program, participants who attend and follow all the lectures How long has this program been around for?
should be able to complete the project. So, to get the certificate
you will also have to complete and submit the project. ● The first cohort of this program commenced in 2010.

Who are the faculty? What programming language does this program use?
● The course is taught by highly acclaimed Quant practitioners ● This program is entirely taught using Python.
and academics in Quantitative Finance who have worked with
topmost global investment banks and firms in New York, London,
Singapore, Sydney and more, with academic background from What mode of payments do you accept?
some of the world’s top universities like Stanford (USA), Columbia
(USA), London Business School, IIM, IIT, ISI, etc. ● We accept all online payment modes like Bank Transfer, Credit
Card, Debit Card, UPI
Is there any placement support?
Is EMI facility available?
We have dedicated placement team who provides strong support
to all successful participants for getting relevant jobs in ● Interest Free EMI payment option is available through our NBFC
International Banks, Hedge Funds, Consulting Firms, IT partners.
Companies and other financial institutions.
You may work in Quantitative Research & Analysis, Development
of Quantitative & Analytical Software, Building Valuation Models,
Model Validation, Derivatives Structuring, Quant Trading, High
Frequency Trading, Algorithmic Trading, Derivatives Trading.

15
 About CPFE
Program
WHAT ALUMNI HAS TO SAY?

FinoQ Executive Program

Indian Institute of Quantitative Finance
 https://www.iiqf.org/testimonials.html
What IIQF Alumni has to say ? View More Reviews
( SCAN THIS )

HARJINDER SINGH HARAPRASAD DASH

● Software Development Engineer, Audible Inc., New ● Associate, Copal Amba (A Moody's Analytics
York Company)
● Previously Technology Analyst, Goldman Sachs, ● Previously Research Analyst, I-Peritus Solutions
New York and Services

● B. Tech. (PTU), AMFE ● M.Sc. (Computational Finance) (IMA)

“I will recommend the 'Certificate Program in Applied
Mathematics for Engineers' to those who want to start
their careers in the field of quantitative finance. The
program teaches you basics as well as advanced
concepts of quantitative finance keeping you abreast
with the latest developments in the field.
It also focuses on the practical implementation of the
models using Excel/VBA. The faculty at IIQF is
comprised of both academicians and practitioners who
bring their research and experience into the teaching.
This program has helped me understand the esoteric
field of derivatives and pricing models. After
completing my B. Tech. from Punjab Technical
University, I was working as a Software Engineer in
TCS, that is when I joined the CP-AMFE, it has certainly
helped me enhance my career aspirations.” 17
“After completing my M.Sc in computational finance, I
joined the AMFE program at IIQF. It was really a
practical and industry oriented program. The things I
learnt during the course helped me getting my first
job at I-Peritus. The faculties are leading practitioners
from the industry, IIQF also provides good placement
support. Thanks for the guidance and support given
by the IIQF faculty team for their guidance, which has
really helped me in improving my interpersonal and
technical skills that was required for cracking
interviews. I will recommend this course to all those
students who want to build a career in Quant/
Structured product/Risk Management. In fact I have
already recommended this course to my juniors.”
 About
INDIAN INSTITUTE OF QUANTITATIVE FINANCE

FinoQ Executive Program

Indian Institute of Quantitative Finance
 About Indian Institute of Quantitative
Finance ( IIQF )

Quantitative
Finance & Financial
Engineering
Education & Training
An institution In the
dedicated to field of Risk Management
Consulting

Quantitative
Algorithmic Trading

Founded by pioneers in India and top experts from the field of Financial Risk Management,
Financial Engineering and Investment Banking. An educational institution focusing on promoting
education and training in the field of Financial Engineering, Quantitative Finance,
Risk Management, Investment Banking, Algorithmic Trading, Derivative Products and several
other areas of Modern Finance for more than a decade.
19
 ABOUT US
Indian Institute of Quantitative Finance (IIQF) is
established as a center of learning in the field of
Quantitative Finance and Financial Engineering.
Founded by leading finance professionals and
entrepreneurs with extensive global experience and
expertise in specialized Quantitative Finance and
Risk Management domains and educational
background from the best of global institutions.
It is the first institute of its kind in India that
exclusively focuses on this extremely specialized
field. IIQF conducts specialized courses and
corporate training programs on advanced
quantitative finance, risk management, financial
modelling, simulations and econometrics for
corporates and individuals. There are specialized
courses tailored to the specific needs of investment
banking and other finance verticals from last 15
Years.
You can contact us at : info@iiqf.org
  Phone no. 022-28797660/ +91 9769860151
View More on Website
( SCAN THIS )
https://www.iiqf.org/aboutus.html
IIQF in partnership with HPC Links, a company
specializing in High Performance and Parallel
Computing technologies, develops Algorithmic Trading,
Derivatives Valuations, Risk Analytics Solutions and
Products using High Performance Computing
technologies and infrastructure. It provides volatility
trading strategy advisory service to derivatives trading
desks of financial institutions.
It has conducted corporate training programs for banks
like Bank of New York Mellon, CitiBank, Societe
Generale, ING Vysya etc. In partnership with Thomson
Reuters it conducts the most comprehensive course in
Financial Engineering in India.
India's First
Quant Finance
Institute
20
 INDUSTRY PARTNERS

Indian Institute of Indian Institute of IIQF Directors were part

Quantitative Finance Quantitative Finance of the Board of Studies
has partnered with of Mumbai University,
has partnered with HPC links, a company engaged to modernize
Thomson Reuters to specializing in high- the curriculum of the
conduct Post performance parallel- Master of Management
Graduate Program computing Studies program to
technologies, for make it more industry
in Financial ready and also to
Engineering Software design Masters Degree
Development, programs in
Research and Quantitative Finance.
Consulting for Financial
markets.

Indian Institute of Quantitative Finance

21
 INDUSTRY CLIENTS

IIQF has conducted 600,000+ man hours of training in Financial Engineering, Quantitative Finance,
Investment Banking and Risk Analytics for large MNC and Indian financial institutions like:

Indian Institute of Quantitative Finance

22
 ACADEMIC INSTITUTIONS

IIQF has conducted training for students of academic institutions like IIT-Bombay, BITS Pilani, NITIE, etc.

IIT-Bombay BITS Pilani NITIE

Indian Institute of Quantitative Finance

23
 Our Training Participants

Our open house programs have drawn

participants from organizations like JP
Morgan Chase, NSE, BSE, RBI, State Bank
of India, Bank of Baroda, Nomura,
KPMG, Deloitte, HSBC Bank, Deutsche
Bank, Barclays Bank, Bank Of America,
CITI Group, Merrill Lynch, Ernst & Young,
Morgan Stanley, Motilal Oswal, India
Infoline, Kotak Securities, IIM’s, IIT’s etc.

Indian Institute of Quantitative Finance

24
 Educational
Awards
IIQF was awarded Mr. Abhijit Biswas our
the won by Founder Director was
awarded the
“BEST FINANCIAL RISK
MANAGEMENT IIQF “100 MOST
INSTITUTION OF THE INFLUENTIAL
YEAR” DIRECTORS OF INDIA
(EDUCATION)”
at the Asia Education
Summit and Awards by World Education
2017 Congress in 2016
Indian Institute of Quantitative Finance
25
Our Awards
In Photographs

IIQF was awarded the IIQF was awarded the

“National Education “National Education
Leadership Award” by Leadership Award” by
Dainik Bhaskar in 2013 for Lokmat in 2014 for
pioneering education in pioneering education in
quantitative finance. financial analytics.

Indian Institute of Quantitative Finance

26
 Address:
Module No. 624, Mastermind IV,
Royal Palms IT Park, Goregaon (E),
Mumbai – 400065

Office Hours:
Weekdays : 10:00 AM - 7:30 PM

Contacts Saturdays & Sundays : 2:30 PM - 7:30

PM
You can contact us in
various way
Direct Contact Person:
Nitish Mukherjee : +91-9769860151

Phone: +91-22-28797660

Email: info@iiqf.org

https://www.iiqf.org
India's First
Indian Institute of Quantitative Finance Quant Finance Institute
27